France – The 75-Percent Top Rate May Return by the Back Door

France – The 75-Percent Top Rate May Return by th...

FIDAL Direction Internationale in France reports that President Hollande announced on March 28, 2013, in a TV interview the 75-percent marginal rate on individuals earning more than EUR 1 million in France which had been invalidated by the Constitutional Court in December may be re-introduced but in a different form. And it will no longer be borne by taxpayers, but, rather, by their employing companies. The company’s general meeting of shareholders will be consulted on compensation and, if an employee’s compensation is more than EUR 1 million, the company will have to pay a contribution that, when all other taxes are combined, will reach 75 percent.

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